Businesses in the Marcellus and Utica Shale supply chain–from drillers to those who supply them with services–now have a new way of getting their hands on money to keep business moving (or expanding). Transfac Capital, a finance company with offices scattered across the country, has just announced they have expanded into Ohio, Pennsylvania and West Virginia with cash in hand ready to make loans in the drilling industry. Transfac is a “factoring” company–meaning they are not a bank but make loans based on a business’ accounts receivable list. That is, they purchase accounts receivable, paying cash now to businesses that would otherwise have to wait to receive that cash–perhaps up to 90 days or more…
